Swiss National Bank trimmed its position in EMCOR Group, Inc. (NYSE:EME – Get Rating) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,100 shares of the construction company’s stock after selling 2,200 shares during the quarter. Swiss National Bank owned 0.25% of EMCOR Group worth $17,640,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation N.A. acquired a new position in shares of EMCOR Group during the 1st quarter worth $26,000. Parkside Financial Bank & Trust boosted its position in EMCOR Group by 66.2% in the first quarter. Parkside Financial Bank & Trust now owns 251 shares of the construction company’s stock valued at $28,000 after buying an additional 100 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in shares of EMCOR Group during the fourth quarter worth $31,000. Brown Brothers Harriman & Co. bought a new position in shares of EMCOR Group in the 1st quarter valued at $35,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of EMCOR Group during the 4th quarter valued at $37,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at EMCOR Group
In related news, EVP R Kevin Matz sold 13,462 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $165.46, for a total transaction of $2,227,422.52. Following the completion of the sale, the executive vice president now owns 191,709 shares in the company, valued at $31,720,171.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Mark A. Pompa sold 25,000 shares of the business’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $170.00, for a total value of $4,250,000.00. Following the transaction, the chief financial officer now directly owns 58,758 shares of the company’s stock, valued at approximately $9,988,860. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP R Kevin Matz sold 13,462 shares of EMCOR Group stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $165.46, for a total transaction of $2,227,422.52. Following the completion of the sale, the executive vice president now directly owns 191,709 shares in the company, valued at approximately $31,720,171.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,462 shares of company stock worth $8,298,143. Insiders own 1.70% of the company’s stock.
EMCOR Group Trading Up 0.0 %
EMCOR Group (NYSE:EME – Get Rating) last issued its earnings results on Thursday, April 27th. The construction company reported $2.32 EPS for the quarter, beating the consensus estimate of $1.83 by $0.49. EMCOR Group had a return on equity of 22.68% and a net margin of 3.91%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same period last year, the business posted $1.39 EPS. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. Analysts expect that EMCOR Group, Inc. will post 9.81 EPS for the current fiscal year.
EMCOR Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Monday, April 17th were issued a dividend of $0.18 per share. This is a boost from EMCOR Group’s previous quarterly dividend of $0.15. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, April 14th. EMCOR Group’s dividend payout ratio (DPR) is currently 7.91%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on EME. DA Davidson raised their price objective on shares of EMCOR Group from $165.00 to $188.00 and gave the company a “buy” rating in a report on Friday, February 24th. StockNews.com assumed coverage on EMCOR Group in a research report on Thursday, March 16th. They issued a “strong-buy” rating on the stock.
EMCOR Group Company Profile
EMCOR Group, Inc engages in the provision of electrical and mechanical construction, and facilities services. It operates through the following segments: United States Electrical Construction and Facilities Services, United States Mechanical Construction and Facilities Services, United States Building Services, United States Industrial Services, and United Kingdom Building Services.
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